Pensionfund Sabic cut its stake in InfraREIT, Inc. (NYSE:HIFR) by 53.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,720 shares of the real estate investment trust’s stock after selling 18,000 shares during the period. Pensionfund Sabic’s holdings in InfraREIT were worth $352,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in InfraREIT by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,919,574 shares of the real estate investment trust’s stock valued at $55,909,000 after acquiring an additional 190,249 shares in the last quarter. State Street Corp raised its holdings in InfraREIT by 10.8% in the 2nd quarter. State Street Corp now owns 871,997 shares of the real estate investment trust’s stock valued at $16,697,000 after acquiring an additional 84,696 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in InfraREIT by 35.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 725,415 shares of the real estate investment trust’s stock valued at $13,892,000 after acquiring an additional 190,748 shares in the last quarter. Bank of America Corp DE raised its holdings in InfraREIT by 2.4% in the 1st quarter. Bank of America Corp DE now owns 615,191 shares of the real estate investment trust’s stock valued at $11,074,000 after acquiring an additional 14,493 shares in the last quarter. Finally, LSV Asset Management acquired a new position in InfraREIT in the 2nd quarter valued at $11,079,000. 83.64% of the stock is owned by hedge funds and other institutional investors.
InfraREIT, Inc. (NYSE HIFR) traded up 0.44% during trading on Wednesday, hitting $22.84. The stock had a trading volume of 18,906 shares. InfraREIT, Inc. has a 52 week low of $14.59 and a 52 week high of $23.15. The company has a 50-day moving average of $22.44 and a 200-day moving average of $20.38. The stock has a market capitalization of $999.89 million, a P/E ratio of 19.21 and a beta of 0.49.
InfraREIT (NYSE:HIFR) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.12). InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. The business had revenue of $40.42 million during the quarter. On average, equities analysts expect that InfraREIT, Inc. will post $1.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.40%. InfraREIT’s dividend payout ratio (DPR) is presently 83.33%.
HIFR has been the subject of several analyst reports. Zacks Investment Research raised InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, July 26th. BidaskClub raised InfraREIT from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Royal Bank Of Canada reissued a “hold” rating and set a $22.00 price target on shares of InfraREIT in a report on Wednesday, August 9th. Finally, Evercore ISI reissued an “outperform” rating and set a $24.00 price target on shares of InfraREIT in a report on Saturday, September 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.67.
In related news, major shareholder Insurance & Annuity A. Teachers sold 42,735 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $22.49, for a total value of $961,110.15. Following the sale, the insider now owns 4,827,358 shares in the company, valued at $108,567,281.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance & Annuity A. Teachers sold 209,582 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $21.19, for a total value of $4,441,042.58. Following the completion of the sale, the insider now owns 5,223,153 shares in the company, valued at approximately $110,678,612.07. The disclosure for this sale can be found here. Insiders sold 1,165,183 shares of company stock worth $25,551,579 in the last quarter. 28.00% of the stock is currently owned by company insiders.
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InfraREIT Company Profile
InfraREIT, Inc is a real estate investment trust. The Company is engaged in owning and leasing rate-regulated transmission and distribution (T&D) assets in Texas. It leases its T&D assets to Sharyland Utilities, L.P. Its assets are located in the Texas Panhandle near Amarillo, the Permian Basin in and around Stanton, Central Texas around Brady, Northeast Texas in and around Celeste and South Texas near McAllen.
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